Heres a quick update on my take on Bitcoin reacting to Mercury retrograde, the moon cycles and our lunar eclipse in early September.
We are at our last stages in this bull market before BTC starts bleeding into September. It's critical to know how we are sitting technically, so please stay calm and observe the market neutrally.
- 112K Support is holding firm, this level is critical as Mercury retrograde enters Q3, which Quarter 3 has been historically bullish for Bitcoin.
- However, bearish energy could still linger until August 14th, as that date is within a 5 day window of a full moon. From now until the 14th will be a cooling zone and consolidation zone. Our RSI is sitting nice and neutral, not reacting to much to the recent drop, meaning more room for upside.
- From August 14th - 28th, we will start to see euphoria in the market. After we are supported on the 117.5K level a 15% rally could take us to the 1.618 FIB level, i'm taking profits at 135K.
- After that, we face the second lunar eclipse of this cycle on September 7th. Historically every Lunar eclipse has bearish energy, and I'm excepting to re accumulate after a 30 - 35% correcting from the recent top out.
This will be the end of the Bitcoin rally, naturally creating a bleed from BTC into the ALT's, Bitcoin will drop as well as dominance and ALT season will kick in. Bye Bye BTC until march for a little swing...
We are at our last stages in this bull market before BTC starts bleeding into September. It's critical to know how we are sitting technically, so please stay calm and observe the market neutrally.
- 112K Support is holding firm, this level is critical as Mercury retrograde enters Q3, which Quarter 3 has been historically bullish for Bitcoin.
- However, bearish energy could still linger until August 14th, as that date is within a 5 day window of a full moon. From now until the 14th will be a cooling zone and consolidation zone. Our RSI is sitting nice and neutral, not reacting to much to the recent drop, meaning more room for upside.
- From August 14th - 28th, we will start to see euphoria in the market. After we are supported on the 117.5K level a 15% rally could take us to the 1.618 FIB level, i'm taking profits at 135K.
- After that, we face the second lunar eclipse of this cycle on September 7th. Historically every Lunar eclipse has bearish energy, and I'm excepting to re accumulate after a 30 - 35% correcting from the recent top out.
This will be the end of the Bitcoin rally, naturally creating a bleed from BTC into the ALT's, Bitcoin will drop as well as dominance and ALT season will kick in. Bye Bye BTC until march for a little swing...
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.